Range Energy Resources Inc.
CNSX : RGO
FRANKFURT : YGK

Range Energy Resources Inc.

April 04, 2011 18:50 ET

Range Energy Resources Inc. Announces Strategic Review Process and Appointment of Allan Bezanson to Board of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 4, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Range Energy Resources Inc. (CNSX:RGO)(FRANKFURT:YGK) announced today that it has initiated a process to identify and consider its strategic alternatives for maximizing shareholder value. In this connection, a party has submitted an unsolicited and non-binding offer to acquire Range's outstanding shares. Discussions regarding the offer are at a very early stage, but in any event Range wishes to fully canvass its options before deciding how to proceed. Other possibilities might include asset sales, joint ventures, new capital investments and a sale of the company to a different party. There can be no assurance that this review process will result in a transaction.

Range is very pleased to announce the appointment of Mr. Allan Bezanson to the Board of Directors effective today. Mr. Bezanson is the Managing Partner of Cornerstone Capital Partners, a Toronto-based investment bank specializing in structuring and facilitating private equity investments in energy, resources and early stage technology sectors. Previously, he was President and Partner at Oballan Capital and Osprey Capital.

About Range Energy

Range Energy has an indirect 24.95% working interest in a company with an 80% interest in a production sharing contract governing the Khalakan Block in the Kurdistan Region of Iraq.

For further information on Range Energy Resources Inc. (CNSX:RGO), please visit the Company's web site at www.rangeenergyresources.com.

Donald R. Sheldon, Chief Executive Officer

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

This news release contains certain statements that may be deemed to include "forward-looking information". Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Range Energy believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Range Energy's management on the date the statements are made. Except as required by law, Range Energy Resources Inc. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The CNSX and Frankfurt Stock Exchanges have not reviewed and do not accept responsibility for the adequacy or accuracy of the content of this press release.

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